Today begins the CTS retirement 2024. Through Supreme Decree No. 003-2024-TR, the Ministry of Labor and Employment Promotion (MTPE) approved the regulations of Law No. 32027, which authorizes workers the provision of 100% of the Compensation for Time of Service (CTS). However, many collaborators who belong to the private sector wonder until when they can send the request to obtain this fund, which was released to cover the needs that have arisen in the current economic crisis facing Peru. Below, we detail the deadline to enjoy the labor benefit that every employer must provide to their collaborators.
According to the aforementioned rule, every formal employee can process starting this Monday, May 27, for the financial entity that houses their CTS to disburse the benefit. The procedure occurs through a transfer to the accounts that the citizen indicates, whether from a financial institution, a savings cooperative, or an electronic money issuing company, according to the limits and conditions established in the law.
CTS Retirement 2024: can I access this benefit if I no longer have a job?
Until when can I withdraw the CTS 2024?
More than 6 million formal workers will be able to withdraw 100% of the CTS, for a single time, until December 31, 2024. The amount to be drawn down will be based on the total accumulated up to that date. In this sense, the user may make the total, partial or fractional transfer, as he or she deems appropriate.
This applies to collaborators who are included in the Single Ordered Text (TUO) of Legislative Decree No. 650, CTS Law, approved by Supreme Decree No. 001-97-TR, and does not depend on the employment regime at which that belongs.
How do I apply for the CTS 2024 withdrawal?
Unlike AFP funds, it is not necessary to make an application to enjoy the CTS 2024. In Supreme Decree No. 003-2024-TR, the Government of Dina Boluarte specified that the transfer must be carried out via digital channels. The procedure must be managed through the internet banking of the banking entity, whether it is the Banco de Crédito del Perú (BCP), Scotiabank, Interbank, BBVA, among others.
Likewise, it can also be carried out before savings and credit cooperatives not authorized to raise resources from the public or operate with third parties.
CTS 2024: when can I withdraw 100% of my funds?
How long does it take to transfer the CTS 2024 withdrawal?
After receiving the request for disbursement of the Compensation for Time of Service (CTS)the banking entity must make the transfer to the accounts specified by the formal worker within a period of no more than two business days, that is, it does not include Sundays or holidays.
When do they deposit the CTS 2024?
Each year, the Compensation for Time of Service (CTS) is mandatory deposited by employers on two occasions, in May and November, respectively. In 2024, companies had to transfer 50% of the profit until Wednesday, May 15.
The second payment corresponding to the fund is due on Friday, November 15.
In the event that the deposit has not been made, the National Superintendency of Labor Supervision (Sunafil) may apply fines for not depositing the CTS 2024which is considered a serious violation.
Start CTS withdrawal today: this is the process to release your money via Interbank, BCP and more
What is CTS?
According to the Superintendency of Banking, Insurance and AFP, the Compensation for Time of Service (CTS) is a deposit that every company has the responsibility to pay to prevent the risk that causes the cessation of the employment relationship and the consequent loss of income. .
Source: Larepublica
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